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Vincent Tan looking to sell LAFC minority stake

Malaysian businessman Vincent Tan has confirmed he is looking to sell his 20-per-cent stake in Major League Soccer team LAFC.

Tan is the owner of English Championship club Cardiff City and a major shareholder of Belgian club KV Kortrijk. He also recently reduced his controlling stake in Bosnian champions FK Sarajevo.

LAFC has multiple minority investors – including former LA Lakers star Magic Johnson, actor Will Ferrell, YouTube co-founder Chad Hurley, Alibaba co-founder Joe Tsai and life coach Tony Robbins – and it is possible one of them will seek to increase their stake in the team.

According to Forbes, LAFC is worth $305m (€274m).